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September 14, 2013


Key Democrat Signals Opposition to Summers

Larry Summers's prospects of becoming chairman of the Federal Reserve next year dimmed, "as an important Senate Democrat signaled that he would vote against the Harvard economist, should President Obama nominate him to lead the central bank," the Wall Street Journal reports.

Sen. Jon Tester (D-MT), "considered a political centrist, joins at least three other Democrats on the Senate Banking Committee who are expected to vote against Mr. Summers if he is nominated."

"The mounting opposition to Mr. Summers suggests his potential path to Senate confirmation is narrowing quickly. His nomination would need Republican support to advance from the banking committee to the Senate floor."












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